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On 9/1/2015 Birmingham County sold bonds at par value in the amount of $12,000,000 to finance construction of a new library

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On 9/1/2015 Birmingham County sold bonds at par value in the amount of $12,000,000 to finance construction of a new library.  On 10/10/2015 Hills County entered into a contract with a private contractor to build a new library building in the amount of $11,000,000.  On 12/1/2015, when the contract was half finished, the contractor submitted a bill for $5,500,000.  The bill was paid on 12/15/2015 less Hills' standard 5% retention to assure any construction deficiencies are corrected.  Hills County operates on a Dec. 31 fiscal year.

            Required:  Prepare the journal entries required in the Capital Projects Fund for the above transactions.